以下则是高顿网校的小编为您精心策划的北美精算师历年真题，请认真阅读SOA北美精算师考试历年真题November2003Course8M（2）。
　　You are the chief actuary for Wonderful Life. You must determine whether
　　Wonderful Life needs to hold any premium deficiency reserves (PDR).
　　(a) (1 point) Outline assumptions to be considered when calculating a PDR.
　　(b) (1 point) Recommend the groupings Wonderful Life should use to assess the need
　　for a PDR. Support your recommendation.
　　(c) (3 points) In addition to Tables MM-1, MM-7, and MM-2a you are given the
　　following information:
　　?  The overall 2003 rate increase is limited to 12% due to small employer rating
　　requirements.
　　?  This rate increase limit only applies to 2003.
　　?  Member termination from 2002 to 2003 will be at the same rate as has been
　　experienced in the past.
　　?  Expenses are calculated assuming an average of 1.75 members per
　　employee.
　　?  Ignore interest and income taxes.
　　Determine if a PDR should be held as of 12/31/2002 for the closed block of
　　business in Wonderful Life’s Small Group Department.
　　COURSE 8: Fall 2003 -4- GO TO NEXT PAGE
　　Health, Group Life & Managed Care
　　Morning Session
　　Questions 2 – 8 pertain to the Case Study
 
　　5. (7 points) Your manager at Wonderful Life Insurance Company has asked you to
　　calculate renewal rates for Group 6 for a March 1, 2003, renewal date using a
　　combination of multi- year loss ratio and catastrophic pooling methods.
　　In addition to information from Tables MM-2a and MM-2b:
　　?  Assume case characteristics for Option 1 and Option 2 are the same for both years as
　　shown in Table MM-3b.
　　?  The gross premium for Group 6 for July 1, 2000 to June 30, 2001 was $5,800,000.
　　?  Weights for averaging are 75% for current rating period and 25% for prior rating
　　period.
　　Calculate the annual gross premium for an employee with dependents selecting Option 1.
　　Show your work.
 
　　6. (3 points) You have been asked to develop materials for a meeting to discuss Wonderful
　　Life’s 5- year plan.
　　(a) Describe possible strategies a group insurance company could use to gain a
　　competitive advantage.
　　(b) Describe how Wonderful Life Insurance Company has demonstrated these
　　strategies in their four primary business divisions. Give an example of such a
　　strategy for each division.
　　COURSE 8: Fall 2003 -5- GO TO NEXT PAGE
　　Health, Group Life & Managed Care
　　Morning Session
　　Questions 2 – 8 pertain to the Case Study
 
　　7. (8 points) In addition to the information provided in Tables C-1, C-2, MM-1, MM-4a to
　　MM-6b, you have been given the following:
　　?  Investment income and taxes are based on 2002 corporate levels
　　?  Corporate after-tax Return on Equity (ROE) objective for 2003 = 15%
　　?  Cost of Capital = 10%
　　?  Risk-based surplus for Major Medical division is 18% of premium.
　　?  Recast of Major Medical Division’s IBNR as of 12/31/99 is $50,000 more than
　　originally booked.
　　Total of MM-6a & 6b
　　Year Incurred and Paid
　　($1,000s)
　　Incurred Estimate
　　($1,000s)
　　IBNR Estimate
　　($1,000s)
　　2000 $1,004,700 $1,004,700 $0
　　2001 $1,125,200 $1,126,224 $1,024
　　2002 $1,121,300 $1,378,977 $257,677
　　(a) (1 point) Describe the importance of using recast data in financial management.
　　(b) (3 points) Convert the corporate ROE objective into the equivalent:
　　(ii) corporate underwriting gain objective
　　(iii) corporate loss ratio objective
　　(c) (4 points) Using recast claims data, calculate the Economic Value Added as a
　　percentage of capital invested for the Major Medical Division for 2000, 2001 and
　　2002. Show your work.
　　COURSE 8: Fall 2003 -6- STOP
　　Health, Group Life & Managed Care
　　Morning Session
　　Questions 2 – 8 pertain to the Case Study8. (6 points) You are *uating Wonderful Life
　　高顿网校之旷世名言：真理是平凡的，真理是跟平凡的事物和平凡的群众分不开的。 —— 冯定